Novartis: The Swiss pharmaceutical company’s shareholders will vote on whether to spin off Sandoz’s generics business, which is valued at up to $25 billion. The board unanimously supported the proposal, which would allow Novartis to follow rivals such as Pfizer in selling divisions that make off-patent drugs to focus on higher-value, innovative treatments.
UK Economy: Data on insolvencies in England and Wales will be published during August, the latest sign of economic problems. The UK economy contracted more than expected in July, while the value of mortgage loans in arrears during the second quarter reached its highest level in seven years.
France: Air traffic controllers will begin a nationwide strike over inflation and wages, threatening to wreak havoc during the second weekend of the Rugby World Cup. The strike may also affect flights crossing French airspace to and from other countries.
London Fashion Week: The gallery opens twice a year at 180 Strand. Designers featured during the five-day program include Bora Aksu, Burberry, JW Anderson, KNWLS, Molly Goddard, Paul Costello, Richard Quinn, Roksanda and Simone Rocha.
NATO: Defense bloc leaders meet in Oslo for their annual military committee conference.
European Central Bank: European Central Bank President Christine Lagarde and the Eurozone Bank’s Governing Council meet informally in Santiago de Compostela to discuss the global economy and appoint a new board member.
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